Flags Corp purchase and placed into service 5275,000 worth of medical production equipment on August 1, 2019. The equipment is expected to last 6 years and/or 200,000 batches, and have a salvage value of $50,000. Calculate the depreciation expense for 2019, 2020, and 2021 for the following methods: 2 pts) Straight-line. 3 pts) Sum of the year's digits. (3 pts) Quadruple declining balance. (3 pts) Units of production assume 10,000, 31,000, and 33,000 batches in years 2019, 2020, and 2021). (4 pts) Assume Flags Corp used the straight-line method. On January 1, 2022, Flags Corp determined the equipment would generated net free cash flows (undiscounted) of $3 million for each of the next 3 years and then nothing thereafter. Further, Flagg Corp uses an internal interest rate of 13%. If necessary, record the impairment journal entry as of January 1, 2022. Historical Cost Salvage Value Useful Life (years) Useful Life (units Year Units Produced In-Service Month Declining Balance Rate Cash Flow Year Cash Flow Amount Company Internal Interest Rate 275,000 50,000 6 200,000 2021 10,000 7 4 2024 3,000,000 1396 2022 31,000 2023 33,000 2025 3,000,000 2026 3,000,000 Flags Corp purchase and placed into service 5275,000 worth of medical production equipment on August 1, 2019. The equipment is expected to last 6 years and/or 200,000 batches, and have a salvage value of $50,000. Calculate the depreciation expense for 2019, 2020, and 2021 for the following methods: 2 pts) Straight-line. 3 pts) Sum of the year's digits. (3 pts) Quadruple declining balance. (3 pts) Units of production assume 10,000, 31,000, and 33,000 batches in years 2019, 2020, and 2021). (4 pts) Assume Flags Corp used the straight-line method. On January 1, 2022, Flags Corp determined the equipment would generated net free cash flows (undiscounted) of $3 million for each of the next 3 years and then nothing thereafter. Further, Flagg Corp uses an internal interest rate of 13%. If necessary, record the impairment journal entry as of January 1, 2022. Historical Cost Salvage Value Useful Life (years) Useful Life (units Year Units Produced In-Service Month Declining Balance Rate Cash Flow Year Cash Flow Amount Company Internal Interest Rate 275,000 50,000 6 200,000 2021 10,000 7 4 2024 3,000,000 1396 2022 31,000 2023 33,000 2025 3,000,000 2026 3,000,000